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First Rock stays solid in real estate market

First Rock is riding high after a fulfilling year, with record profits for 2020 and optimistic projections for 2021.

Ryan Reid, CEO and co-founder of First Rock, made the declaration last Wednesday during the latest Mayberry Investor Forum where he was the guest speaker.

According to Reid, the company initially started the business with no money and has accumulated J $5.5 billion in assets after setting a target of earning approximately $4 billion in capital within the first two years.

“We are at $5.5 billion to date, which shows that we have exceeded the target from our growth in our balance sheet perspective; 68 per cent of our assets are in Jamaica and we are big on betting on Jamaica in good and cautiously in bad, we have 10 per cent of assets in the Cayman Islands, six per cent in the United States and 16 per cent in Costa Rica,” said Reid.

“We have subsidiaries in the United States, Cayman Islands, Costa Rica and in Jamaica, which is FCH Jamaica Developers Limited. We also acquired Dolla Financial Services roughly over a year ago,” he added.

First Rock is set to explore other territories, but now the company is celebrating its milestone surpassing $4 billion in assets in December 2020.

Additionally, the group continues to push forward positively as it builds a solid and diverse team of experts to expand in its newest ventures, with its recent appointment of former Prime Minister Bruce Golding as chairman of First Rock Global Holdings Barbados Limited, and Chris Yeung as the managing director of the First Rock Group.

“First Rock Group is committed to deploying the most competent individuals who instinctively align with the objective of the company,” declared Reid.